PRIM confirms $200m commitment

The US public pension has backed DivcoWest's sixth value-add real estate vehicle.

Institution: Massachusetts Pension Reserves Investment Management Board
Headquarters: Boston, United States
AUM: $76.0bn
Allocation to alternatives: 24.50%
Bitesize: $50-100m

Massachusetts Pension Reserves Investment Management Board has agreed to commit $200 million to DivcoWest Fund VI, a contact at the pension informed PERE. The value-add vehicle will be targeting assets in growth-orientated markets across the US.

The $76 billion US public pension has a 10.0 percent target allocation to real estate which currently stands at 9.40 percent.

As illustrated below, PRIM is a repeat investor to this fund series having previously also committed to funds III through V. Altogether, the pension has committed $400 million to DivCoWest’s flagship series.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.